RENASCOR RESOURCES LIMITED — Capital/Financing Update 2012

Nov 26, 2012

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ASX Announcement

27 November 2012

DRILL TARGETS IDENTIFIED AT EASTERN EYRE PROJECT

HIGHLIGHTS

• High priority and untested targets identified within Renaissance’s 100%-owned Eastern Eyre Project

• Geological/geochemical targets identified from examination of drill core of historical prospects, offering high-grade copper targets within broad zones of intense hydrothermal alteration and anomalous copper geochemistry

• Additional targets include untested gravity and magnetic anomalies situated within the mineralised Roopena Fault Zone, adjacent to historical copper prospects, where previous drilling intersected ironoxide, copper-gold-uranium (IOCGU) style mineralisation and alteration

• Exploration in recent past limited due to proposed extension of Department of Defence’s Cultana Training Area over project licence area

• With licence now obtained, Renaissance expects to conduct further, detailed geophysical surveys in December, with first-pass drilling scheduled for early 2013

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Figure 1. Renaissance’s Eastern Eyre Project (in yellow), showing regional geology

www.renaissanceuranium.com.au

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989

ASX code: RNU

Email: info@renaissanceuranium.com.au

Renaissance Uranium Limited (ASX: RNU) is pleased to announce that it has identified multiple high priority and untested drill targets at its 100%-owned Eastern Eyre Project in the Eyre Peninsula of South Australia. Renaissance identified several geological and geochemical targets from its examination of drill core of historical prospects, offering high-grade copper drill targets within broad zones of intense hydrothermal alteration. Additional targets include geophysical anomalies situated within mineralised fault zones adjacent to historical copper prospects, where previous drilling intersected iron-oxide, copper-gold-uranium IOCGU-style alteration. Exploration within the project area in the recent past had been limited, as the Department of Defence considered protocols for conducting exploration within proposed expansions to the Cultana Training Area over the licence area. With these protocols now in place, Renaissance was recently granted an exploration licence, and Renaissance now expects to conduct geophysical surveys in December, with first-pass drilling scheduled for early 2013.

Commenting on the recently identified targets, Renaissance’s Managing Director stated:

We believe the Eastern Eyre Project to be one of the best untested target areas for IOCGU and associated styles of copper mineralisation in South Australia. We are delighted to have identified multiple new drill targets within an area of widespread copper endowment. Together with our existing gravity and magnetic targets, these new targets significantly improve an increasingly prospective area and offer outstanding drill targets.

Overview

Renaissance’s exploration at the Eastern Eyre Project is targeting large IOCGU-style and associated deposits within the Roopena Fault Zone in the southern portion of the Olympic Dam corridor. The majority of this fault zone has not been recently drill tested as a result, in part, of the proposed expansion of the Department of Defence’s Cultana Training Area. Recently, the Department of Defence and the Government of South Australia agreed upon protocols for conducting exploration within the Cultana Training Area and proposed extensions into areas covered by Renaissance’s Eastern Eyre Project. With these procedures now clarified, South Australia’s Department of Manufacturing, Innovation, Trade, Resources and Energy (DMITRE) recently granted Renaissance’s licence application over EL 5012 (see Figure 2), permitting Renaissance to proceed with its proposed exploration activities within the project area, and, in particular, over areas within and adjacent to the Roopena Fault Zone.

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Figure 2. Renaissance’s Eastern Eyre Project, showing historical copper occurrences and identified magnetic and gravity anomalies (EL 5012 in yellow; EL 4721 in orange)

ASX code: RNU www.renaissanceuranium.com.au

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renaissanceuranium.com.au

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The Roopena Fault Zone forms a wide zone of mylonitic and hydrothermally altered rocks. New seismic data released by Geoscience Australia images the Roopena Fault as a deep crustal structure that links at depth with the mantle-cutting Kalinjala Mylonite Zone. See Figure 1. The Kalinjala Mylonite Zone separates Palaeoproterozoicdominated volcanic and sedimentary rocks to the east from late Archean crustal rocks to the west. This therefore represents a major continental suture zone identical to the geodynamic setting of the Olympic Dam ore body. Renaissance considers areas within and adjacent to these fault zones to be highly prospective for economic deposits containing copper and associated minerals.

Historical drilling within the project area to the east of the Roopena Mylonite Zone intersected several areas with anomalous levels of copper mineralisation. See Figure 2. The majority of these prospects were targeted from the late 1960s through the 1980s using geochemical surface sampling, followed by shallow drilling. The presence of multiple zones of copper mineralisation suggests to Renaissance that this area and the Roopena Fault Zone represent zones of extensive hydrothermal alteration with associated copper-silver-gold-cobalt mineralisation. As a number of these areas have either not been previously drill tested or subjected to only limited exploratory drilling, Renaissance considers them to represent priority targets for drill testing.

Geological/geochemical targets

Within anomalous copper zones east of the Roopena Fault, Renaissance has identified multiple high priority targets for high-grade copper deposits from its examination of historical drill assays and core. In particular, Renaissance considers the “1050 East” and the “1050” prospects (see Figure 3) to offer immediate targets for additional drilling.

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Figure 3. Geology and mineralisation summary for 1050 East and 1050 Prospects

Results from previous drilling at the 1050 East Prospect, as shown in Table 1, include intersections of anomalous copper mineralisation (for example, FW01 – 40 metres from 80 to 120 metres depth at 0.37% Cu), with narrower intervals of higher grade copper (for example, SOC09 – 2.9 metres from 170.85 to 173.75 metres depth at 1.96% Cu, 24 ppm Ag and 1070 ppm Co). Mineralisation is hosted within metasomatic tourmaline-bearing breccias and quartzites within a wide zone of hematite silica chlorite alteration zone affecting the Moonabie Formation and base of the Mount Laura Formation. Renaissance considers the combination of highly anomalous geochemistry and the pervasive alteration of host sequences within the prospect to offer immediate priority drill targets.

At the 1050 Prospect (Table 2), very limited deeper drill testing of a large area of +500 ppm copper anomalism from shallow rotary air blast drilling returned a further thick intercept of anomalous copper (FW 07 – 93 metres from 36 to 129 metres depth at 0.12% Cu). Mineralisation is hosted by brecciated and veined dolomitic mudstones and siltstones within an extensive area of hematite carbonate altered Mount Laura Formation. As shown in Figure 4, the prospect includes extensive areas of anomalous copper, yet limited historical drill has been undertaken. Accordingly, Renaissance considers this prospect to offer considerable prospectivity and multiple drill targets.

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renaissanceuranium.com.au

ASX code: RNU www.renaissanceuranium.com.au

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Figure 4. Detailed rotary air blast copper geochemistry for the 1050 Prospect area

Further evidence for the extensive nature of the hydrothermal alteration within the 1050 Prospect area is provided by results for drillhole ROD02 from the Malachite Prospect, to the northwest of the 1050 area (see Figure 3). This diamond-cored hole was drilled to investigate beneath a high copper interval intersected by a rotary air blast program (ER559, 18 metres @ 0.86 % Cu, 21 to 39 metres [EOH], including 3 metres @ 3.85% Cu from 30 to 33 metres). ROD02 intersected moderately anomalous copper, with encouraging silver results (4 metres @ 49.5 ppm Ag from 57 to 61 metres, including 1 metre @ 92 ppm Ag from 59 to 60 metres). The mineralisation is associated with extensive sericitisation, carbonatisation and silicification of dolomitic mudstone/siltstone. The presence of significant alteration and elevated silver in the nearby Malachite Prospect suggests prospects for epithermal mineralisation within the 1050 Prospect area.

Drill Hole (eoh/m)	Type	From (m)	To (m)	Result	Style
SOC 7 (184.5)	Diamond	71.2	106.7	35.5m @ 0.33% Cu;including:	Metasomatic breccia
		86.05	88.3	2.25m @ 1.02% Cu + 20ppm Ag
		89.6	97.05	7.45m @ 0.8% Cu
SOC 9 (205.5)	Diamond	170.85	173.75	2.9m @ 1.96% Cu + 24ppm Ag, 1070ppm Co	Metasomatic/ tourmaline quartzite
FW 1 (120)	RC	80.0	120.0	40m @ 0.37% Cu;including:	Metasomatic quartzite
		92.0	96.0	4m @ 2.2% Cu + 0.25ppm Au, 51ppm Ag
FW 5 (202)	RC	158.0	186.0	28m @ 0.25% Cu; including:	Metasomatic breccia
		158.0	168.0	10m @ 0.55% Cu + 48ppmAg

Table 1. Significant historical drill results from 1050 East Prospect

ASX code: RNU www.renaissanceuranium.com.au

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renaissanceuranium.com.au

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Drill Hole (eoh/m)	Type	From (m)	To (m)	Result	Style
SOC 5 (93.3)	Diamond	49.0	93.3	44.3m altered argillite with thin veins/fracture fills of hematite- quartz-witherite-siderite±pyrite	Brecciated/veined dolomitic mudstone/siltstone
FW 7 (129)	RC	36	129	93m @ 0.12% Cu	Brecciated/veined dolomitic mudstone/siltstone
FW 8 (162)	RC	52	80	28m highly altered argillite with local chlorite-sericite-quartz- siderite-pyrite veinlets	Brecciated/veined dolomitic mudstone/siltstone

Table 2. Significant historical drill results from 1050 Prospect

As part of its immediate work program, Renaissance intends to conduct an airborne electromagnetic survey over the anomalous copper zones within the Eastern Eyre Project, including several of the historical prospect areas, to assist in target definition and prioritisation for first pass drilling.

Geophysical targets

In addition to the geological/geochemical targets within the project area, Renaissance has identified several geophysical targets, including untested gravity and magnetic anomalies situated within the fault zone adjacent to the historical copper prospects. See Figure 2. Previous drilling in this area has intersected iron-oxide, coppergold-uranium (IOCGU) style mineralisation and alteration, and the geophysical prospects include aeromagnetic anomalies within the fault zone that are directly comparable to the regional magnetic expression of Rex Minerals (ASX: REX) Hillside Project.

Of immediate interest, the Roopena Fault zone to the west of the 1050 East and 1050 prospects shows combined magnetic and gravity expressions consistent with the model for IOCGU-style mineralisation hosted within this structural corridor. See Figure 5. This area and other similar features within the Roopena Fault Zone (see Figure 2) will be the focus for acquisition of detailed ground magnetic and gravity data.

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Figure 5. Geophysical targets within the Roopena Fault Zone to the west of the 1050 East and 1050 prospects (residual gravity contours on aeromagnetic image)

ASX code: RNU www.renaissanceuranium.com.au

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renaissanceuranium.com.au

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Next steps

Renaissance is currently preparing for geophysical surveys expected to occur in December. The surveys will include detailed gravity over approximately 200 square kilometres of tenement where existing gravity station spacing is inadequate for the purposes of defining IOCGU-style ore body response to the level required for drill testing. Additionally, Renaissance expects to conduct an airborne electromagnetic survey over approximately 150 square kilometres to assess the region surrounding the 1050 East and 1050 prospects for high sulphide-hosted mineralisation. Upon prioritising targets from these surveys, as well as geological targets identified from historical prospects, Renaissance expects to commence first pass drilling on high priority targets in early 2013.

COMPETENT PERSON STATEMENT

THE EXPLORATION RESULTS REPORTED HEREIN, INSOFAR AS THEY RELATE TO MINERALISATION, ARE BASED ON INFORMATION COMPILED BY MR. G.W. MCCONACHY (FELLOW OF THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGY) WHO IS A DIRECTOR OF RENAISSANCE. MR. MCCONACHY HAS SUFFICIENT EXPERIENCE RELEVANT TO THE STYLE OF MINERALISATION AND TYPE OF DEPOSITS BEING CONSIDERED TO QUALIFY AS A COMPETENT PERSON AS DEFINED BY THE 2004 EDITION OF THE AUSTRALASIAN CODE FOR REPORTING OF EXPLORATION RESULTS, MINERAL RESOURCES AND ORE RESERVES (THE JORC CODE, 2004 EDITION). MR. MCCONACHY CONSENTS TO THE INCLUSION IN THE REPORT OF THE MATTERS BASED ON HIS INFORMATION IN THE FORM AND CONTEXT IN WHICH IT APPEARS.

BACKGROUND INFORMATION

Renaissance Uranium is an Australian-based company focused on the discovery and development of economically viable deposits containing uranium, gold, copper and associated minerals. Renaissance has an extensive tenement portfolio, holding interests in projects in the key mineral provinces of South Australia and the Northern Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr David Christensen

Mr Angelo Gaudio

Managing Director Company Secretary +61 8 8363 6989 info@renaissanceuranium.com.au

ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: info@renaissanceuranium.com.au

ASX code: RNU www.renaissanceuranium.com.au

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